How To Calculate How Much Renters Insurance You Need?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    Take a quick inventory of your personal property.  That inventory should include your furniture, appliances, clothing and anything else of value that you own.  Compute how much it would cost to replace each item on your inventory.  Total those prices and you have the basis for your homeowner’s property limit.  Set the liability limit by selecting the most coverage that you can afford.  At a minimum compute your net value and add two years of income.  Insure for at least that much and more if you can.
    Answered on May 7, 2014
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